The company intends to use the capital for the upcoming product launch and for future product development.

Founded by wireless technologies experts including Todd Wheeler and CEO Saad Hussain, PLAiRaims to enable anyone to watch anything, anywhere, anytime. It has been operating in stealth mode since early 2011.

In conjunction with the funding, Mike Maples, Jr., co-founder of FLOODGATE, is joining the company’s board of directors while McNamee is joining the board as an observer.